Student housing may be tough right now, with school closed down, but at least accumulate all the knowledge you can now on the subject.

In Chicago we are required to file an affidavit with the eviction complaint stating the owner is not aware the property is subject to the CARES Act.

As far as a real estate specific book on the subject, I like Finding and Funding Great Deals right here on BP.

Note: Even a HELOC is going to come with some closing costs (not sure why that was the subject line of your post).

Only a wholesale-lease-option deal solves their problem (or buying subject to my prefered).

Active being fairly subjective, but if partners are signing on loans, brought in for decisions big or small, or have an overall hand in the management, they are active.Passive investors, as mentioned, becomes a syndication and there are many SEC filings and compliance items that need to be handled.

It was very clean but not as modern-looking as the subject property I am interested in. 

When you use third party collectors who do not give you PCI compliance, you are subject to charge backs for which you have not control over. 

Moving forward this is all subject to change depending on how things play out.

Jonathan, there are already dozens of threads on these subjects if you want to get caught up.